Equities Analysts Offer Predictions for Zynex, Inc.’s Q2 2023 Earnings (NASDAQ:ZYXI)

Zynex, Inc. (NASDAQ:ZYXI – Get Rating) – Stock analysts at HC Wainwright lowered their Q2 2023 earnings per share (EPS) estimates for Zynex in a report issued on Tuesday, March 14th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of $0.07 per share for the quarter, down from their prior estimate of $0.09. HC Wainwright currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Zynex’s current full-year earnings is $0.46 per share. HC Wainwright also issued estimates for Zynex’s Q4 2023 earnings at $0.23 EPS and FY2023 earnings at $0.45 EPS.

Zynex (NASDAQ:ZYXI – Get Rating) last released its quarterly earnings results on Monday, March 13th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $48.81 million for the quarter, compared to analysts’ expectations of $49.65 million. Zynex had a return on equity of 24.35% and a net margin of 10.78%.

Separately, Piper Sandler upgraded shares of Zynex from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.00 to $18.00 in a report on Friday, January 6th.

Zynex Trading Down 2.2 %

Zynex stock opened at $10.76 on Thursday. Zynex has a 1 year low of $5.35 and a 1 year high of $17.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.68 and a current ratio of 3.41. The firm has a market cap of $402.77 million, a price-to-earnings ratio of 24.44 and a beta of 0.65. The firm’s 50 day moving average price is $13.50 and its two-hundred day moving average price is $12.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rice Hall James & Associates LLC increased its stake in Zynex by 13.4% in the first quarter. Rice Hall James & Associates LLC now owns 64,870 shares of the company’s stock valued at $404,000 after acquiring an additional 7,645 shares during the period. Swiss National Bank lifted its position in shares of Zynex by 17.8% during the first quarter. Swiss National Bank now owns 54,310 shares of the company’s stock worth $338,000 after purchasing an additional 8,210 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Zynex by 14.8% during the first quarter. JPMorgan Chase & Co. now owns 220,923 shares of the company’s stock worth $1,376,000 after purchasing an additional 28,415 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Zynex in the first quarter valued at approximately $66,000. Finally, Bank of New York Mellon Corp lifted its holdings in Zynex by 14.9% in the first quarter. Bank of New York Mellon Corp now owns 210,580 shares of the company’s stock valued at $1,312,000 after buying an additional 27,369 shares during the period. Institutional investors own 28.64% of the company’s stock.

Zynex Company Profile

(Get Rating)

Zynex, Inc engages in the design, manufacture, and marketing of medical devices. It sells electrotherapy medical devices used for pain management and rehabilitation. The company also develops a new blood volume monitor for use in hospitals and surgery centers. The company was founded by Thomas Sandgaard in 1996 and is headquartered in Englewood, CO.